Subject to AND seller finance in same deal?

[Stacy Ross]

Hi All,

Maybe there is a different name for this, but is it possible to have subject to an existing mortgage ($115K) and seller financing on the remaining portion of the deal ($100K)?  I have been told yes, but I'm not sure how to structure it. 

Thoughts:  All in one agreements? Do not want the subject to mortgage due on sale to potentially happen, so would you do a trust for this overall deal?

[Matt Devincenzo]

Yes, there are two ways you could structure it. The first is you take the property subject to the first, and then record a second for the seller's carried back portion. The other would be a 'wrap' where the existing loan is 'wrapped' in a new loan that is a single set of terms and payment. Look for that 'wrap' term here on BP and you'll find a lot more of the info you're interested in.